ICICI Prudential invests in real estate firm Signature Global

ICICI Prudential invests in real estate firm Signature Global
04/05/2016 , by , in News/Views

ICICI Prudential’s real estate fund has invested Rs 150 crore in realty firm Signature Global for the development of ongoing and future affordable housing projects.

Signature Global, one of the key stakeholder of financial investment firm SMC Group, is developing four housing projects comprising of 4,500 dwelling units in Gurgaon under the Haryana government’s affordable housing policy.

“The company will launch its fifth affordable housing project tomorrow, which has about 730 units, at Gurgaon in a price range Rs 16-22 lakh,” reported by PTI.

“We have raised Rs 150 crore from ICICI Prudential’s real estate fund. The amount has been raised in debt form at group level,” Signature Global Chairman and Co-Founder Pradeep Aggarwal said.

“The fund will be used for the development of our current five affordable housing projects and also to acquire new projects,” he added.

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